Every rental business requires a rental agreement. Both tenant and house owner need a rental agreement to keep the process smooth and avoid any unnecessary conflicts. You won’t need to experience the meticulous cycle of pressing and moving the entirety of your stuff again for, in any event, two years. Without
Rent Agreement Online you may suffer lots of tension or anxiety to build a rent agreement. Or if you do not make the same you may invite wasteful stress in your renting life.
You should draft a rental agreement as it has lots of benefits that are shared below.
- Minimizes the conflicts: Rental agreement minimizes the conflicts between the tenant and owner. There could arise many situations that can result in conflict between the two. So, in need to avoid these conflicts, it is better to have a rental agreement. For instance, if you have paid the advance rent for the house but later on the owner claims that you haven’t paid it, at such time the rental agreement will come to your rescue. Moreover, a rental agreement helps to develop good relations between tenant and owner as it states streamlined rights and obligations which are precisely defined.
- Address Proof: Rental agreement acts as address proof for various financial transactions and it makes sure your existence in the city.
- Legal Protection: If the value of an asset is high, there arises the need for legal documents always. Hence, its rental agreement provides legal protection.
- Identity Proof: Rental agreement acts as identity proof. Identity proofs are required everywhere, whenever you do any procedural work. Either it is your job or your education-related work or anything else, while submitting the documents you will always be asked to submit your identity proof such as PAN card, Aadhar Card, and rental agreement Gurgaon adds one more document to this pool.
- Passport Making: Address proof is one of the required documents in the list of documents required for making the passport. So, a rental agreement will help a lot in this case, it will ease your police verification process.
- Proof for Bank Loans: When you apply for any bank loan, the bank will ask you to submit your address proof. In this case, the rental agreement acts as a strong address proof compared to other documents.
- BMTC asks for a Rental Agreement: You need to have a registered rental agreement attested from a government official if you want to have a yearly bus pass, whereas for the daily or monthly pass there is no need for such agreement.
- Vehicle Registration: As per RTO rules, you must have a registered rental agreement in order to get your new vehicle registered. As for them, it is mandatory to consider crime and other illegal activities.
- New Gas Connection: agencies like Indian Gas or Bharath gas ask you to submit a copy of your electricity bill, photograph, and rental agreement as proof when you opt for a gas connection from the government. So, a rental agreement helps you to get a new gas connection.